Indian Railway Finance Corporation Q2 Profit Soars To Rs 1,714

The funding to the Indian railway sector as of today has crossed Rs 5.05 lakh crore mark by the end of the Q2 FY23

Indian Railway Finance Corporation (IRFC) has reported a 14 per cent increase in its profit to Rs 1,714 crore in the second quarter that ended September 2022. IRFC is the dedicated market borrowing arm of the Indian Railways, and has earned a profit of Rs 1,501 crore in the same quarter of 2021. The revenue from operations for Q2 FY23 also grew by 23.88 per cent to Rs 5,810 crore as against Rs 4,690 crore reported in the same time period of 2021. The funding to the Indian railway sector as of today has crossed Rs 5.05 lakh crore mark as of the end of the Q2 FY23.

The net worth stood at Rs 43,549 crore and assets under management stood at Rs 4,39,070 crore as of September 30, 2022. The board of the company also approved an interim dividend of 8 per cent of the face value which is Rs 0.80 per share for 2022-23.